GBP/USD Technical Analysis 19 April 2010

Pound/Dollar also depreciated on Friday, in line with the Interbank sentiment, at nearly -10%. The Cable decreased yesterday from 1.5523 to 1.5368, closing the week at 1.5358. Today Sterling is making further retreating efforts. First resistance is Friday's top at 1.5469. Break above it should extend the bullish movement further towards 1.5600. The nearest support is today's bottom at 1.5212. Going bellow it may extend British Pound's weakening further down towards 1.5125. There are no major economic events for UK today. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The values of RSI, MACD and CCI indicators are all negative and calm on the 1 hour chart, giving overall short signals.Technical resistance levels: 1.5469 1.5523 1.5600Technical support levels: 1.5212 1.5125 1.5000

Already made +58 pips profit on GBP/USD today from the following signal:6:03 GMT+1 Sell GBP/USD at 1.5269 SL 1.5295 TP 1.5209 exit at 7:51 GMT+1.Today so far +171, on Friday +120, as shown in details at www.zifx.com/performance.php.